Then there were two. Only Steve Cohen and the bidding group led by Alex Rodriguez and Jennifer Lopez remain in the New York Mets sweepstakes.
According to Thornton McEnery of the New York Post, the sale of the New York Mets is down to two parties: Steve Cohen and the bid led by Alex Rodriguez and Jennifer Lopez. Joshua Harris and David Blitzer have lowered their bid after seeing the team’s financials, essentially eliminating them from the bidding.
This isn’t the only bombshell that McEnery dropped. According to McEnery, Jeff Wilpon hates Steve Cohen. The bad blood has gotten so bad that, “He wants A-Rod to come away with the team or make Cohen pay double the nearest offer.” The bidding has reportedly become a “squeeze job.”
McEnery also reports that JPMorgan Chase is going to make sure that J-Rod has the money to come close to Cohen. Still, they won’t be able to match Cohen’s offer, which will undoubtedly be the highest.
The last bombshell is that the Wilpons will retain a 5% minority stake in the team. This isn’t news to prospective buyers, who were told this would be the case in February.
Despite Wilpon’s apparent hatred of Cohen, this will come down to one thing—money. Whoever offers the most is likely going to win the bidding, and that’s Steve Cohen. The Wilpons are just doing everything they can to squeeze as much money out of him as possible.
Realistically, the only thing that could stop Cohen is the other 29 owners. It’s been reported numerous times that it’s not a slam dunk that Cohen would be approved by the other owners.
If they veto a sale to Cohen, then it seems the Mets’ new owners will be Rodriguez and Lopez. Either way, Mets fans finally have some clarity. The team will either be owned by hedge fund billionaire Steve Cohen or New York baseball legend Alex Rodriguez.